Why are tax cuts so hard?
Dec 4, 2017, 6:00 AM | Updated: 3:13 pm
(File, Associated Press_
America is so divided we can’t even agree on whether what the Senate just passed is a big beautiful middle-class tax cut or not.
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Because, for starters, we can’t agree on what’s middle class.
If you define “middle class” as someone earning $30,000 to $50,000 a year, it doesn’t look like much of a tax cut at all because half of those taxpayers would get less than $500.
And if you’re looking for the “Big Beautiful” middle-class tax cut the president promised, you need to be making around $400,000 – those folks get back a little over $10,000.
However, a lot of people wonder why anyone making over $400,000 needs a tax cut at all, given that this is all coming from borrowed money.
Bringing us to the other big argument: the debt. The weird thing is that Republicans, who once upon a time shut down the government to protest the debt, don’t seem to care about it now. Instead, the debt warnings are coming from Democrats, who used to have no problem with borrowing money, especially to boost a struggling economy.
And that’s the other thing. We can’t even agree whether the economy is struggling. The same president who says high corporate taxes are killing the economy also congratulates himself every time the Dow sets a new record without a tax cut.
This is nuts.
How about next time we just give every taxpayer a $2,000 voucher which can only be used to buy something made in America. We will all feel good keeping the money in the country; problem solved. Provided we can actually find $2,000 worth of stuff made in America.
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